For several years, Jay Haladay was the sole owner of Viewpoint, the parent company of Viewpoint Construction Software. In 2009, Jay recognized the opportunity to capitalize on favorable market dynamics and his company’s differentiated product to capture significant market share and to build the leader in enterprise resource planning (ERP) software for the construction industry. After assembling a world-class management team and aligning his employees toward a set of high-achieving goals, Jay sought a capital partner that could help him build the business into a dominant and rapidly-growing player.
In January 2010, Updata IV completed a $10 million Series A investment in Viewpoint. The investment provided liquidity for Jay and supplied growth capital, which along with Updata’s counsel, allowed the Company to scale its distribution channels and geographies, and to introduce new products. The company gained significant market share through organic growth, and with Updata’s help it identified and executed three acquisitions.
In the first two years after Updata’s investment, Viewpoint achieved a 39% organic revenue CAGR and a 47% overall CAGR while maintaining significant profit. It firmly established itself as a market leader and captured market share from competition. The company subsequently attracted attention from the strategic and investment communities, and after an introduction facilitated by Updata, Viewpoint closed a $76 million Series B investment in 2012. The new capital provided additional fuel for growth, and significant liquidity for Updata and Viewpoint’s other shareholders.
Following two more years of strong performance, and after cementing its position as the leading construction software provider by completing four acquisitions, Viewpoint was acquired in 2014 by Bain Capital.
“After many years of sole ownership, I was looking for a firm that would be a true value added partner in the business. Updata has been just that. Their input comes from deep operating and industry experience, not just from financial analysis. We are very pleased to have Updata as our equity partner.”
– Jay Haladay, CEOPortfolio Page